GKP - Research

Hi B77,

I'm a little concerned about the weakness since 178p, yes. There's now a possibility of a negative RSI divergence at that price though, like most things in GKP's chart, it's not clear.

As far as Dec 13th is concerned, the assumption among investors will be that an appeal will be refused but that may not be the case. In any event, news of the original court case victory didn't do many favours so I think it's dangerous to make assumptions regarding either the outcome of the hearing or, indeed, the impact on the SP either way.

Morning Jacko - and thanks for your analysis.
I am assuming that if GKP fails to close above 167/8 today then you might revise your analysis.
Dec 13th is a big day for the company, however, and the prospect of clean title with no appeal might be enough to keep your upside targets in play. Volumes as we approach that date will no doubt be key.

This is looking good for the medium to long term now IMHO. Here are a few different timeframe charts starting with the daily:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily01_12_13.png

Weekly:



dl.dropboxusercontent.com/u/20815047/FTS...KPweekly01_12_13.png

And the monthly showing a lovely hammer:



dl.dropboxusercontent.com/u/20815047/FTS...Pmonthly01_12_13.png

Levels to watch next week are 179p, 171p, 186p, 173p and 193.75p. I also think that there could be a retrace to 166p after that to test the breakout point (and form a wave 2). The next projection after that is at 240p - all these EWT projection come in at known price resistances or supports....nice.

PS They're just speculation. Buy the dips might be a good policy here now IMHO.

The main down trend line from September is holding this back



dl.dropboxusercontent.com/u/4899609/gkp22ndnov.png

There is 2 possibility on GKP for a long
The first one could be going long on the trend line play which is currently at 142.3(changes daily).This will be a first attempt trade only.
or wait for the 123 low formation. The level to go long on this would be a break above 168.5 as long as we don't go below 148.75 in the mean time.


dl.dropboxusercontent.com/u/4899609/gkp20thnov.png

Nice island formation currently and this after a hammer.



dl.dropboxusercontent.com/u/4899609/gkp14thnov.png